Billionaire investor George Soros, who made $1 billion in 1992 correctly betting against the British pound, said he expects Greece will be able to remain in the euro region.
Ã¢â‚¬Å“IÃ¢â‚¬â„¢m actually confident Greece will do whatever is necessary to meet conditions to remain a member of the euro to qualify for financing by the ECB for Greek government bonds,Ã¢â‚¬Â Soros told reporters in Jakarta today. The European Central Bank has limits for the ratings of bonds it accepts as collateral.
World stock markets rallied since yesterday as prospects for a bailout of Greece eased concern that deteriorating government finances will derail the global economic recovery. The European Union is scheduled to hold a summit in Brussels tomorrow as the Greek government braces for a wave of strikes protesting plans to reduce the regionÃ¢â‚¬â„¢s largest budget deficit.
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